PropNews - Sentosa & Somerset Land parcels

Yesterday, Ho Bee successfully increased its stakes in the Sentosa property market. With the success of its first development - The Berth, it has launched its 2nd development Coral Island recently and now it has obtained the Baywater Collection site in Sentosa Cove for S$ 325 million, and it intends to build about 250 luxury waterfront units. This deal signifies the continued confidence in the property market by developers.
Furthermore, another land sale worth watching would be the Somerset MRT site. Though smaller than the Orchard Turn site, it is still as desirable. With a size of 0.72ha, it could be developed into a gross floor retail area of 23,300 sqm in addition to about 160 apartment units. Companies interested in this bid includes Lippo Group, Far East Organization as well as Wheelock Properties.